Consumers' strong preference for saving and sluggish personal consumption
First written in FY2017-Q1. 10 of 22 entries say "Mitigated", first in FY2018-Q1. Latest entry: FY2026.
New Japan Chemical moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 61 of 80 companies on the "Worse" side.
5 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Although the negative effects of tariffs imposed by the Trump administration, higher prices and supply constraints caused by labor shortages were evident in the Japanese economy, it remained on a gradual recovery trend as the income environment improved through continued wage increases and private consumption recovered.」
Although downside factors such as higher prices remain, the description notes improvement in the income environment and a recovery in private consumption, indicating that the previously stated risk of sluggish consumption is easing. - FY2025-H1MitigatedAnnual report
「The domestic economy was generally on a gradual recovery trend, as strong inbound consumption and improving business sentiment drove an increase in corporate capital investment, while private consumption also began to recover.」
The description has changed from concerns about downside risks to consumption due to higher prices to a statement that private consumption had begun to recover. - FY2024-Q2MitigatedAnnual report
「Although exports were weak due to sluggish external demand and higher prices weighed on consumption, the domestic economy was on a gradual recovery trend, with private consumption and inbound consumption showing signs of improvement.」
Although downside factors from higher prices and sluggish external demand remain, private consumption and inbound consumption have improved, and the domestic economy is described as being on a gradual recovery trend. - FY2024-Q1MitigatedAnnual report
「In the Japanese economy, although there were downside factors such as higher prices, conditions remained firm, supported by the recovery in private consumption and inbound consumption driven by rising wages.」
While higher prices remain a downside factor, private consumption and inbound consumption have recovered against a backdrop of rising wages, and the domestic economy is described as remaining firm. - FY2023-Q3WorsenedAnnual report
「However, concerns about downside risks to consumption due to sharp exchange-rate fluctuations and rising prices, including energy prices, have left the outlook still uncertain.」
While economic activity was moving toward normalization, concerns about downside risks to consumption from exchange-rate fluctuations and rising prices were noted. - FY2023-Q2ReframedAnnual report
「In the Japanese economy, the number of COVID-19 cases reached a record high during the seventh wave, while there were also signs of progress toward an economic recovery with COVID-19, including the gradual easing of restrictions on movement and entry. However, the rapid depreciation of the yen driven by rising interest rates in Europe and the United States, together with increases in prices, particularly energy prices, slowed the pace of economic recovery.」
The recovery in economic activity resulting from the seventh wave of infections and the easing of restrictions is described alongside the rapid depreciation of the yen and rising prices as factors slowing the pace of recovery. - FY2023-Q1WorsenedAnnual report
「In the Japanese economy, there were signs of progress toward normalizing economic activity, including the full lifting of the priority preventive measures issued by the government. However, the outlook remains uncertain, as broad-based price increases caused by the rapid depreciation of the yen, among other factors, have worsened consumer sentiment.」
While economic activity was moving toward normalization, broad-based price increases accompanying the rapid depreciation of the yen were described as a new burden worsening consumer sentiment. - FY2022-Q3MitigatedAnnual report
「Although the Japanese economy continued to be affected by COVID-19, the full lifting of the state of emergency led to an upturn in private consumption and signs of recovery in economic activity.」
The description states that private consumption increased despite the continuing effects of COVID-19 and that signs of recovery were seen in economic activity. - FY2021-Q3WorsenedAnnual report
「During the nine-month consolidated period under review, the Japanese economy was subject to substantial restrictions on private consumption and corporate activity due to the resurgence of COVID-19. The timing of the end of the outbreak remains unforeseeable, and the outlook continues to be uncertain.」
The situation has deteriorated from the previous recovery trend in private consumption to substantial restrictions on private consumption and corporate activity due to the resurgence of COVID-19. - FY2020WorsenedAnnual report
「In addition to the decline in private consumption following the consumption tax increase and developments in overseas conditions, including US-China trade friction, the spread of COVID-19 from January onward left the outlook extremely uncertain.」
The situation has deteriorated from the previous recovery and resilience to uncertainty about the outlook caused by the decline in private consumption following the consumption tax increase and the spread of COVID-19. - FY2020-Q1RestatedAnnual report
「In the household sector, employment and income conditions improved, and private consumption gradually recovered.」
The description states that the previous gradual recovery trend in private consumption continued and that consumption recovered against a backdrop of improving employment and income conditions. - FY2019-Q3MitigatedAnnual report
「In addition, as employment conditions improved, private consumption also moved toward a gradual recovery.」
Regarding private consumption, the description has changed from the previous stagnation and flat performance to a gradual recovery. - FY2019-Q2RestatedAnnual report
「In addition, private consumption remained firm as the employment and income environment improved.」
Private consumption has continued to recover from its previous stagnation and flat performance, remaining firm. - FY2019-Q1RestatedAnnual report
「Favorable income conditions continued against a backdrop of improving employment conditions, and private consumption remained firm.」
Private consumption has continued to recover from its previous stagnation and flat performance, remaining firm. - FY2018MitigatedAnnual report
「As employment conditions improved, income and private consumption also recovered gradually.」
Regarding private consumption, the description has changed from the previous stagnation and flat performance to a gradual recovery supported by improving income. - FY2018-Q3MitigatedAnnual report
「Against a backdrop of favorable employment conditions, income and private consumption remained on a gradual recovery trend despite the slow pace.」
Regarding private consumption, the description continues to state that it is on a gradual recovery trend, changing from the previous description of an improving trend. - FY2018-Q2MitigatedAnnual report
「Amid favorable employment conditions, improvements were seen in wages and private consumption.」
The description has changed from sluggish, flat private consumption to improvements being seen in wages and private consumption. - FY2018-Q1MitigatedAnnual report
「Against a backdrop of continued improvement in the employment and income environment, private consumption remained firm.」
The description has changed from sluggish, flat private consumption to private consumption remaining firm. - FY2017RestatedAnnual report
「Although private consumption remained broadly flat,」
Domestic private consumption has remained flat without recovering. - FY2017-Q3RestatedAnnual report
「The economy remained on a recovery trend as favorable employment conditions and incomes continued to improve, but personal consumption remained essentially flat.」
While employment and income conditions have improved, personal consumption has continued to remain flat. - FY2017-Q2MaterialisedAnnual report
「Personal consumption did not recover」
The situation in which personal consumption has not recovered has continued. - FY2017-Q1MaterialisedAnnual report
「Consumers remained strongly inclined to economize, and personal consumption continued to stagnate.」
Weakness in the domestic consumption environment is described as the actual business environment.